PHDCCI seeks trade policy reforms

PTIJul 12, 2004, 05.43pm IST

NEW DELHI: To tap the potential of internal trade in the country, industry body PHDCCI on Monday asked government to come up with a National Internal Trade Policy.

"Such a policy should act as a guiding principle to initiate short-term changes and help in achieving long-term objectives of creating a common domestic market in the country," the Chamber said in a submission to the Finance Minister P Chidambaram.

This would help in significantly improving the functioning of markets and overall economic efficiency within the country, PHDCCI president Ravi Wig said.

Trade has been subject to a variety of constraints in the country, he said, adding that it was impeded by one of the most complicated and elaborate sales tax systems in the world.